Cool Cats Raffle Burns More Than 100 Million MILK Tokens
Cool Cats recently announced its raffle for three unminted, original NFTs, and in less than 24 hours, the raffle has burned more than 100 million MILK tokens.
Each raffle ticket costs 2,000 MILK tokens, which is currently equivalent to about $2. The MILK that is spent on these raffle tickets is burned by the team in an effort to thwart the ever-expanding supply.
The first raffle is expected to end on Jul. 25 at 12 p.m. ET. The three winners will be chosen on Jul. 26 at 12 p.m. ET using Chainlink for random number generation. All raffle tickets exist on the blockchain to ensure the process is 100 percent random.
This raffle is part of the team's effort to add utility to its native MILK token. MILK can currently be used to purchase items in the Cool Cats marketplace, re-roll quests for Cool Pets, and other fun IRL (in-real-life events), like advertising your Cool Cat in New York during NFT NYC.